Tuesday, September 21, 2010
1 out of 5 Homeowners Are Upside Down...
One out of five Utah Homeowners with a mortgage was in a "negative-equity" sitution in the second quarter according to CoreLogic. In Utah, 20% of people with a mortgage owed more on their homes than they were worth, and more than 6% were getting close to being "underwater".
Compared to other states, the percentage is relatively mild. In Nevada, 68% were in a negative-equity situation followed by Arizona at 50%, Florida 46%, Michigan 38% and California 33%.
If you think you may be in this situation here are a couple of sites that you can visit that have some great suggestions on how to avoid foreclosure and other helpful tips. And of course you can always call or email me with questions too!
Just click here for those tips: Upside Down Tips OR HUD Tips